REUTERS: U.S. online wholesale retailer Boxed is exploring strategic options, including a sale or going public through a merger with a blank-check acquisition company that could value it at around US$1 billion, according to people familiar with the matter.
The company has hired investment bank Citigroup Inc to advise on the sale, the sources said, requesting anonymity as the matter is private. Seven-year-old Boxed has raised over US$240 million in funding from investors including American Express Co and GGV Capital, and was last valued at US$600 million in 2018, according to PitchBook.
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